Tag: Smart Contract

A smart contract is a blockchain-based computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.

DxChain: Navigating The Next Frontier In Blockchain Data And Computing

Blockchain is a key disruptor in industries as diverse as finance, retail, healthcare, and politics. The latter certainly introduces intriguing possibilities into the social fabric. In 2018, Boston start-up Voatz launched a blockchain-based voting platform to address concerns about voting irregularities. To date, more than 70,000 voters have already used Voatz to vote in state, municipal, and union elections. The platform’s Blockchain technology ensures tamper-proof record keeping and auditing. As Blockchain technologies evolve, so do expectations regarding their continued viability. One man, however, has leveraged the bottleneck of data storage and computing to create new solutions.

DxChain- distributed storage and computing network

Allan Zhang has always been ambitious, where technology is concerned. In 2018, the former security engineer for Palo Alto Networks launched DxChain, a distributed storage and computing network. It is essentially a decentralized Big Data and machine learning network that has revolutionized data security in the cloud. Under the previous Blockchain model, the largest Internet giants owned Big Data: Amazon, Google, and Facebook. With Zhang’s DxChain, data in all its forms come under individual ownership. It’s a powerful new shift in the Blockchain paradigm.

On its face, DxChain utilizes “Chains-on-chain” architecture to facilitate data trading. It consists of an immutable master chain and two side chains for storage and computation. The side chains not only add to the capabilities of the master chain, they also come equipped with their own security framework. This means that a security breach on the main chain will not affect the side chains. While the master chain handles transactions (such as master contracts), the side chains address scalability and latency issues.

At its heart, DxChain is a data trading platform that combines with Hadoop to deliver stable, secure, and decentralized storage for both individuals and organizations. Essentially, DxChain dismantles the Big Tech monopoly on data and allows everyone to trade data securely over the cloud.

Solutions

The technological innovations in DxChain are extensive in nature. Zhang and his team of engineers designed DxChain to include side chains for delivering storage, privacy, and computational capabilities. 

  • The master Blockchain utilizes an Ethereum-compatible data framework of hash-connected blocks. In Blockchain, special hashing algorithms create hashes, which are fixed-length digital signatures for blocks. At their heart, hashes contribute extensively to data security.
  • Meanwhile, the computing side chain is predicated on the verification game algorithm and Provable Data Computation (PDC) consensus mechanism. At its heart, verification game utilizes recursive checking to ensure that computational procedures are performed correctly, while Provable Data Computation (PDC) allows users to remotely ascertain the authenticity of data stored at untrusted sources.
  • For its part, the data storage side chain is based on the Proof of Spacetime (PoSt) and Provable Data Possession(PDP) consensus mechanism. PoST facilitates faster transaction speeds, improved privacy protections, and increased transparency.
  • Immutable encrypted data protects user data and prevents costly breaches.
  • DxChain has the potentiality of powering smart cities. In a smart city, smart contracts oversee the daily operations of temperature, air quality, and security sensors. The platform also enables data buyers to develop machine learning algorithms to detect device failures and order maintenance checks. 
  • In the healthcare industry, the value chain is impeded by Big Data and privacy concerns. Providers must wade through copious sets of patient health records, lab reports, and wearable technology data to deliver accurate diagnoses and treatment plans. DxChain addresses both data and security concerns by encrypting data collected through mobile apps, smart devices, and fitness trackers and storing them securely. Data can also be shared across devices, which facilitates cross-functional collaboration between healthcare providers. Additionally, the platform’s machine learning capabilities allow healthcare developers to develop unique algorithms to remotely monitor the health of patients.

Essentially, DxChain’s decentralized platform reduces data storage and traffic management costs, which may, in turn, lower healthcare premiums for patients.

Target Businesses

DxChain has the potentiality of transforming how data is stored, managed, and traded in the cloud. Beneficiaries of its platform include:

  • Small and medium-sized AI companies, which can leverage DxChain to create unique big data and machine learning platforms at lower costs.
  • Proprietorships and organizations of various sizes, which can obtain data at competitive prices in a secure data transaction market. 

Essentially, everyone can obtain the kind of high-quality data that is currently monopolized by enterprise organizations. 

At its heart, DxChain eliminates the challenges of the present Blockchain network:

  • the monopolization of profits by powerful organizations from the sale of valuable data
  • privacy concerns of industries that must comply with regulatory requirements
  • expensive costs associated with data storage services

As can be seen, Zhang’s DxChain is a game changer in Blockchain technology. If you’re curious about how new Blockchain technologies can transform your healthcare ecosystem, contact us. Together, we can transform your value chain organically, effortlessly, and intrinsically. 

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Robomed – Blockchain powered medical care using smart contracts

Blockchain has become one of the most important technologies in the world for more secure communication, and the healthcare field continues to benefit. You’re seeing more and more companies delving into Blockchain technology to offer better healthcare services for patients.

A standout is Robomed, a virtual medical network that offers smart contracts for patients and managed by a Blockchain token. It’s an innovative system allowing better ways for patients to interact with medical facilities on sharing medical information and in paying bills. Patient-centered medical networks like this are still new to the marketplace. Yet, they’re about to snowball once Robomed proves its worth.

Take a look at how Robomed’s process works and what it means for smart contract use in healthcare.

robomed

Using the Robomed EHR

Any medical facility in the Robomed network has access to their EHR platform that allows for unified storage of medical data and health management tools. It’s a unique integration not available widely yet.

As a way to provide a single information space, it helps eliminate the old middleman concepts of standard medical networks. Patients and medical facilities have long had to endure too much bureaucracy, leading to delays in immediate communication. Plus, with standard networks, security still isn’t assured in a time when hacking occurs nearly every day.

Through the Robomed EHR, the Blockchain technology they use allows for a smart contract with patients, something possible using their own token.

What Kind of Token Does Robomed Use?

Known as the RBM token, this ethereum cryptocurrency gives a lot more freedom and security in transactions between patients and medical facilities. The benefit of using a smart contract like this is it gives freedom to vote on medical service value. This helps considerably in providing quality medical care to those in other countries who perhaps can’t afford certain services.

Keep in mind that if you join Robomed, you have to agree to use the RBM token as payment to medical facilities in the network. They’re easy to use, though, and the pre-sale starts on October 25th. The ICO runs from November 1st through the 30th.

In total, they’re releasing 1,675,000,000 RBM tokens with a final release date on November 31.

All the funds received from these tokens are going to go toward developing and improving a smart ecosystem smart contract.

Using the Smart Contract in the Robomed EHR

Thanks to Blockchain technology bringing more transparency to communication and transactions, it opens a lot of new possibilities through Robomed’s EHR platform.

It now offers the ability to provide a digital patient chart both parties can easily access without worry of hacking. It’s also possible to keep a transparent schedule for specialists, plus real-time monitoring of all personnel actions. Better tracking of staff salaries is possible here, proving the worth of smart contracts.

Most importantly, it opens a private network for medical staff to make smart decisions without fear of data being compromised.

Other Digital Uses for Robomed

Once you start using the Robomed platform, you’ll be able to use it for telemedicine technology, giving your patients more confidence in providing personal information. Analytics are available to see how effective medical facility advertising is.

Additionally, they offer a mobile version of the platform, as well as one for the web. Through the mobile edition, it’s possible to provide even more convenience with telemedicine consultations. It’s also easy for patients to do scheduling without having to call in on busy phone lines. All patients can control who sees their medical information, and vice versa.

As Robomed advances, we expect to see this imitated everywhere soon in the healthcare industry.

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